CRIKEY!!!! 1.5%

[alw 0]

Shezzzam the Bank of England just cut rates 1.5% to 3.0%. The ECB stands at 3.75% and was widely expected to cut .5% later this week but may now go .75%.

This was a real shocker.

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Every day is a bonus - every night is an adventure.

[Skyrad 0]

When an author is too meticulous about his style, you may presume that his mind is frivolous and his content flimsy.
Lucius Annaeus Seneca

[miked10270 0]

Quote

Bank of England just cut rates 1.5% to 3.0%...

The big question is whether lenders will pass the effects of the reduced BoE rate to their customers, or use it to increase their profitability.

Right now, with a reluctance to chase credit, the latter is the more likely possibility.

Perhaps the time has come for governments to impose caps on bank lending rates for some loans such as secued/mortgages?.. Otherwise, the cut in central bank rates will not have the desired effect.

Mike.

Taking the piss out of the FrenchAmericans since before it was fashionable.

Prenait la pisse hors du FrançaisCanadiens méridionaux puisqu'avant lui à la mode.

[shropshire 0]

+1

(.)Y(.)
Chivalry is not dead; it only sleeps for want of work to do. - Jerome K Jerome